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TransDigm Group Reports Fiscal Fourth Quarter and Year-End Results
Cleveland, Ohio, November 17, 2011/PRNewswire via COMTEX/ TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the fourth quarter and fiscal year ended September 30, 2011.
Highlights for the quarter and fiscal year include:
|-||Fourth quarter net sales of $343.0 million, up 53.7% from $223.1 million;|
|-||Fourth quarter EBITDA As Defined of $171.9 million, up 48.6% from $115.6 million;|
|-||Fourth quarter adjusted earnings per share of $1.45, up 42.2% from $1.02;|
|-||Fiscal 2011 net sales of $1,206.0 million, up 45.7% from $827.7 million;|
|-||Fiscal 2011 net income of $172.1 million, up 5.3% from $163.4 million;|
|-||Fiscal 2011 earnings per share of $3.17, up 26.2% from $2.52;|
|-||Fiscal 2011 EBITDA As Defined of $589.9 million, up 43.3% from $411.6 million; and|
|-||Fiscal 2011 adjusted earnings per share of $4.48, up 33.7% from $3.35.|
Net sales for the quarter rose 53.7% to $343.0 million from $223.1 million in the comparable quarter a year ago. Organic net sales growth was approximately 13.7% driven by improvement in both the commercial aftermarket and OEM markets as well as a modest increase in defense sales. The acquisitions of McKechnie Aerospace, Talley Actuation, Semco Instruments and Schneller accounted for the balance of the sales increase.
Net income for the quarter increased 33.1% to $67.4 million, or $1.26 per share, compared with $50.6 million, or $0.96 per share, in the comparable quarter a year ago. The current period includes $3.1 million, or $0.06 per share, from discontinued operations. Income from continuing operations increased 27.0% to $64.3 million, or $1.20 per share, which reflects the net sales growth partially offset by higher interest expense related to the refinancing of the Companys debt structure in the first quarter of fiscal 2011 and acquisition-related expenses of $8.6 million, net of tax, or $0.17 per
The following information was filed by Transdigm Group Inc (TDG) on Thursday, November 17, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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